Retired boxing legend Floyd Mayweather is reportedly putting a huge offer together to buy a stake in NFL side New York Giants.
According to TMZ Sports, Mayweather is leading a group aiming to purchase a 10% stake in the four-time winners of the Super Bowl.
The 47-year-old and his business partner, prominent real estate magnate, Meyer Orbach, are setting up an intriguing offer, and reports indicate that there could be another investor on the team.
RELATED STORIES
The 50-0 boxing legend’s offer is reported to be about a staggering $700 million, with a proposal set to be submitted in the coming days.
Floyd has already moved $200 million into an escrow account, as per TMZ.
“My partners and I are always looking at different opportunities, including ownership of sports teams. I can’t comment further than that,” Orbach said to the outlet.
This is not the first time Meyer would be buying a pro sports franchise. He owns just under 20% of the Minnesota Timberwolves.
The franchise was founded in 1925 and is one of the richest histories in the sport, with an estimated value of $7.5 billion, as per Forbes.
Recently, it was revealed owners of the New York Giants John Mara, grandson of team founder Tim Mara, and Steve Tisch wished to sell part of their stake in the NFL side.
According to the report, Floyd Mayweather has already received letters of support from the team owners, and a deal is likely to suffice soon.
